WILLOWBROOK, ILL. — AVA Inc. has purchased a 20,385-square-foot industrial property in Willowbrook. Located at 7051 S. Adams St., the facility features two exterior docks, one drive-in door, 20-foot clear ceiling heights and parking for 36 vehicles. Kip Hennelly of CB Richard Ellis represented the buyer; Bill Waliewski of Westmont, Ill.-based Morgan Realty Partners represented the seller, 8-0 Real Estate LLC, in the transaction. Terms of the transaction were not disclosed.
Midwest
DUBLIN, OHIO — Wells Real Estate Funds has acquired Sterling Commerce Center I-IV in Dublin. Duke Realty sold the assets for an undisclosed price. Located at 4600-4725 Lakehurst Court and 6060 Emerald Parkway, the 322,679-square-foot center consists of two four-story and two three-story Class A office buildings. Paul Lundstedt, Jeffrey Shell, John Ecclestone, John Gavin and Richard Schuen of Grubb & Ellis|Adena Commercial represented Duke in the transaction.
APPLE VALLEY, MINN. — Gemini Real Estate Advisors, on behalf of its Gemini Opportunity Fund III, has acquired a $9.2 million first mortgage note. The performing whole loan was purchased at an undisclosed discount to par value. The underlying asset is a standalone retail property, which is leased to LA Fitness, in Apple Valley. The primary term of the lease runs through 2022, with additional extension options. The seller was not disclosed.
JOLIET, ILL. — Stepan Co. has inked a build-to-suit lease deal for a 217,712-square-foot industrial building at CenterPoint Intermodal Center-Joliet in Joliet. The Northfield, Ill.-based company is a producer of specialty and intermediate chemicals used in household, industrial, personal care, agricultural, food and insulation related products. The property is being developed by CenterPoint Properties.
SUPERIOR, WIS. — New Perspective Senior Living has broken ground for the development of The Lighthouse of Superior, a senior housing community in Superior. The state-of-the-art facility will offer assisted-living and memory-care residences. Ryan Companies US is serving as general contractor on the project, which is scheduled for completion this fall.
CARBONDALE, KAN. — A Colorado-based investor has purchased a 9,014-square-foot retail property, which is located in Carbondale. The single-tenant property is net-leased to Dollar General. A Kansas-based developer sold the property for $837,500 at a 9.02 percent cap rate. Ben Sgambati, Michael Lombardi and Adam Christofferson represented the seller; Sgambati and Lombardi also represented the buyer in the transaction.
GARY, INDIANA — The Gary Housing Authority (GHA) has selected The Habitat Company to manage construction services for three housing developments operated in Gary. GHA is investing more than $5.8 million in HUD funds to rehabilitate units within the Dorie Marie, East Point and Ivanhoe Garden developments. The project involves renovating 92 units in the Dorie Marie and East Point properties, and demolishing 316 units in the 104-building Ivanhoe Garden property. The HUD funding was received as part of the federal stimulus program.
HARTLAND, WIS. — HM Investment Partners LLC has acquired a 44,860-square-foot industrial property in Hartland. The property, which is located at 581 S. Industrial Dr., sold for an undisclosed price. Stephen Provancher of NAI MLG Commercial represented the seller, DRE Investments LLC, in the transaction.
ST. CHARLES AND CHICAGO, ILL. — Titan Commercial, an affiliate of Magellan Development Group, has completed two lease transactions totaling $2.17 million in Illinois. In the first transaction, CPD Feather Rock purchased a 4,083-square-foot building, located at 2710 E. Main St. in St. Charles, for $1.96 million. T-Mobile and Qdoba currently occupy the two-unit retail property. The sellers were Shiner Group and Hilco Real Estate. Ben Rosenfield of Titan Commercial represented the buyer. In the second transaction, Avenir Publishing signed a lease for 3,941 square feet of space at 180 N. Wabash in Chicago. The landlord is Marc Realty. Rosenfield represented Avenir in the transaction. Additional terms of the transaction were not released.
KANSAS CITY, KAN. — Savant Corp. has acquired a 29,000-square-foot industrial property in Kansas City. Arnold-Newbanks sold the property, which is located at 2820-A Roe Lane, for an undisclosed price. Pat Murfey of Grindstone Industrial Properties negotiated the transaction.